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Advantages of Simulation
1) It can be used in areas where analytical techniques are not available or would be too complex.
2) Constructing the model inevitably must involve management and this may enable a deeper insight to be obtained into a problem.
3) A well-constructed model enables the results of various policies and decisions to be examined without any irreversible commitments being made.
4) Simulation is a cheaper and less risky than altering the real system.
5) Can be used for training decision makers.
In the documentary bills the seller faces a lot of risk as the risk of non-acceptance or non-payment of goods. This poses a main risk for the seller. These additional securities in
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SIMULATION MODELS Simulation is a method of analyzing a system by experimentally duplicating its behavior. Management accountants can be able to make meaningful inferences conc
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how do i use least squares method to solve semi average problem?
C-V-P ANALYSIS UNDER UNCERTAINTY A major limitation of the basic C.V.P analysis is the assumption that the unit variable cost, selling price and the fixed costs are constant an
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